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FERRARI F8 FINANCING

Discussion in '458 Italia/488/F8' started by Dbops618, Mar 5, 2020.

  1. Dbops618

    Dbops618 Karting

    Feb 27, 2017
    150
    Miami
    is it true that the f8 can be financed for 84 months trough ferrari finance with zero down
     
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  3. Autolove

    Autolove Karting

    Jun 8, 2012
    212
    S.A. TX.
    Full Name:
    Ivan
    Depend on you credit score, do a ballon of 60 months it work better
     
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  4. Dbops618

    Dbops618 Karting

    Feb 27, 2017
    150
    Miami
    on a price of 303.000 tax included. how would the payments and final balloon payment be
     
  5. Autolove

    Autolove Karting

    Jun 8, 2012
    212
    S.A. TX.
    Full Name:
    Ivan
    I will be only guessing better ask your dealer,
    But my opinion no money down aprox 3,500
     
  6. Dbops618

    Dbops618 Karting

    Feb 27, 2017
    150
    Miami
    i am concerned about the balloon payment...amount
     
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  8. SoCal to az

    SoCal to az F1 World Champ
    Silver Subscribed

    Nov 25, 2012
    10,044
    Arizona
    if you are considering an 84 month car payment, may I respectfully suggest you not buy the car and maybe instead look at a used 488 or similar for much less money. The car is going to be worth half it’s value and you still will have 30 months of payments left.
     
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  9. mkraft3003

    mkraft3003 Formula Junior

    Aug 20, 2016
    426
    Tampa, Fl
    The b
    The balloon is set by Ferrari financial. Go talk to your dealer and get the correct information.
     
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  10. Jo Sta7

    Jo Sta7 F1 Rookie
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    Oct 13, 2015
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    Scottsdale/Pittsburgh
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    Jon
    sound advice. I’m fortunate to have a large LOC at Libor + 100 bps. Instead of financing if I didn’t want to pay cash I’d just borrow on the line to buy the car. Only caveat to what you said would be if the individual had more than enough to pay the balloon but just didn’t want to liquidate positions upfront and figured they could cash flow the payment for 5-7 years for as low as possible. Not a horrible strategy.
     
  11. SoCal to az

    SoCal to az F1 World Champ
    Silver Subscribed

    Nov 25, 2012
    10,044
    Arizona

    To each their own but I couldn’t do a 7 year payment trying to get the latest and greatest car. I’d buy used and something in my means. No disrespect intended to OP.
     
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  13. IloveGT

    IloveGT Formula 3

    Oct 17, 2015
    1,453
    Don't do it on the F8 for reasons stated. Look at your own car buying pattern in the past. If you change car every 2 years like some of people do here, you will be extremely upside down with F8. Look at 488. Unless you have enough means and you don't care and your cash freed up can have better use. Throwing 150k in 2 years can mean something to somebody.
     
  14. boobernackle

    boobernackle Formula Junior

    May 28, 2016
    916
    Looks like Ferrari is desperate for F8 sales.
     
  15. RyanFoH

    RyanFoH Formula Junior
    Sponsor

    Jan 30, 2010
    817
    Houston, Texas
    Full Name:
    Ryan Dohogne
    60 Month FFS Balloon for F8 is 59% of MSRP
     
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  16. IPO1

    IPO1 F1 Rookie

    Dec 23, 2015
    3,384
    Probably. However, all exotic car makers are 'desperate' for sales at this point...
     
  17. ryalex

    ryalex Two Time F1 World Champ
    Consultant Owner

    Aug 6, 2003
    22,542
    Las Vegas, NV
    Full Name:
    Ryan Alexander
    I haven't seen any F8 finance offers, but it seemed to me that on all of the literature/offers for other vehicles, Ferrari Financial expected at least $15,000 down. Maybe that's just the standard proposal.

    Ryan at FoH here will have more details.
     
  18. cole328

    cole328 Formula Junior

    May 9, 2014
    695
    I personally would never ever finance a depreciating asset.


    Sent from my iPhone using FerrariChat
     
  19. SoCal to az

    SoCal to az F1 World Champ
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    Nov 25, 2012
    10,044
    Arizona
    Same. Cash or bust for me.
     
  20. SirPouyan

    SirPouyan Karting
    BANNED

    Oct 18, 2017
    180
    Full Name:
    SirPouyan
    How do you expect Ferrari to bring in thousands of new buyers if their Finance arm doesn't "buy" the cars for them? LOL
     
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  21. SoCal to az

    SoCal to az F1 World Champ
    Silver Subscribed

    Nov 25, 2012
    10,044
    Arizona
    Financing is fine. But you have to be reasonable with the terms. 84 months to finance a car? Something that’s going to be worth half in 7 years??? Not the most prudent step to take.
     
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  22. ryalex

    ryalex Two Time F1 World Champ
    Consultant Owner

    Aug 6, 2003
    22,542
    Las Vegas, NV
    Full Name:
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    Too simplistic, and variables apply. The larger question is overall financial condition, interest rate, amount of downpayment, etc.
    • Could you afford to buy it without financing?
    • Can you make more with investments that would make it better to keep money in the investment and just bear the 4-6% interest?
    • Will you put enough down to maintain a positive equity position during your ownership?
    • How stable is your future cashflow to ensure continued payments without interruption?
    There are a lot of times when financing is an ideal option where the money is productive elsewhere. Maybe a large % of finance clients don't fit my criteria either.

    As an aside, the above is why I have *not* put a deposit down for an F8: that initial depreciation would leave me [and most buyers?] upside down very quickly unless you do $120-150k downstroke. And then it will be gone after two years! No, better to stick with my 458 and only lose 10-15k per year...
     
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  23. Dbops618

    Dbops618 Karting

    Feb 27, 2017
    150
    Miami
    at the end of years
    at the end of 4 years the balance will be 148,000. that car will be worth around that mark
     
  24. Dbops618

    Dbops618 Karting

    Feb 27, 2017
    150
    Miami
    after 4 years the payoff is about 148,000. so isnt the car worth about that amount at 4 years. And this financing is with zero down
     
  25. Yellowgallardo1

    Yellowgallardo1 Karting

    Sep 19, 2018
    121
    Full Name:
    marcus
    Personally if the rate is cheap I’ll borrow till the cows come home.Ill make more with the money to invest. I don’t know about 7 years though. Most of those rates are in the 4-6% on fairly prime credit. There is loans out to 144 months on those amounts but the rates are so high. My old beater is paid for though
     
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  26. boobernackle

    boobernackle Formula Junior

    May 28, 2016
    916
    At a minimum FFS requires you to put down the sales tax upfront on a lease. This is so FFS is not out of pocket anything to register the vehicle. Many other captive finance arms will allow you to roll the sales tax into the lease, not FFS, they need it upfront, but not much else assuming superb credit and payment history (apart from first payment and security deposit).

    If it takes you the 84 month finance option to buy anything, you're clearly stretching yourself thin.
     
  27. SoCal to az

    SoCal to az F1 World Champ
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    Nov 25, 2012
    10,044
    Arizona
    have you kept a car for 7 years? I sure as hell haven’t.
     
  28. Carnut

    Carnut F1 Rookie
    Rossa Subscribed

    Nov 3, 2003
    3,711
    Gladwyne PA
    Full Name:
    Morrie
    Financing is good when you use as a tool to get a better price, which I often do. The dealer gets a commission on the loan (usually after 90-120 days) and I get money off the car and promise not to pay off the loan until after the time period. It has always worked for me except with Ferrari's, they have a different structure. I do not give financial advise, but if I was I'd say at 0% it is not a bad idea, if I can make what I have averaged of the last 5 years I could almost make up for the loss of the cars value.
     

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